Adam Wood, an analyst from Morgan Stanley, maintained the Buy rating on Hbx Group International Plc. The associated price target remains the same with €14.70.
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Adam Wood’s rating is based on the positive outlook for HBX Group International Plc, driven by their expected financial performance and strategic organizational changes. The company has projected that its FY25 results will align with previously provided guidance, indicating a steady growth trajectory with TTV growth between 6-9%, and revenue anticipated to be between €720-€740 million. Furthermore, the company expects an adjusted EBITDA of €430-€440 million and a strong operating free cash flow conversion rate of 100%.
In addition to the promising financial outlook, HBX Group is undergoing a restructuring to enhance its operational efficiency. The formation of five new verticals—Sourcing, Distribution, Fintech, Mobility & Experiences, and Hoteltech—along with the appointment of new division heads, is expected to bolster the company’s strategic initiatives. While these changes are not at the top management level, they are anticipated to strengthen the executive team and support the company’s growth objectives, making the stock an attractive buy.